U.S. technology services provider Computer Sciences Corp will sell its credit services unit to business information provider Equifax Inc for $1 billion in cash.The credit services unit provides financial services and consumer credit information to the automotive industry, banks, retail establishments, mortgage companies, medical entities, and utilities in the United States.CSC shares were up about 4 percent at $39.54 on the New York Stock Exchange, while Equifax shares were up about 5 percent at $53.71 on Monday afternoon."We had a contract with Equifax which strategically did not give us a lot of flexibility in terms of how we could leverage this asset going forward," CSC Chief Executive Mike Lawrie said on a conference call.
Computer Sciences Corporation (CSC) is engaged in the information technology (IT) and professional services industry. Shares of CSC traded higher by 3.11% or $1.185/share to $39.24. In the past year, the shares have traded as low as $22.19 and as high as $38.68. On average, 1455050 shares of CSC exchange hands on a given day and today's volume is recorded at 1231123.
Equifax Inc. is a provider of information solutions for businesses and consumers. Shares of EFX traded higher by 3.93% or $2.015/share to $53.26. In the past year, the shares have traded as low as $36.81 and as high as $51.86. On average, 781823 shares of EFX exchange hands on a given day and today's volume is recorded at 1937774.
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